Interesting news from the Senate—apparently, crypto regulation in the U.S. is entering a decisive phase. Key senators who previously stalled negotiations over stablecoin rewards now seem ready to move forward. The Digital Asset Market Clarity Act has become the industry’s main goal, and this week saw a climax: bankers published a new version of the legislative text right during the debates.

Trump didn’t stay on the sidelines. He stated directly via Truth Social that banks are trying to use the Clarity Act to undermine the already adopted GENIUS Act. His words were firm: banks should not hold the law hostage. Interestingly, the president met with the head of one of the major crypto platforms before making this statement—apparently, they discussed the situation.

On the side of the crypto industry, Eric Trump, an adviser to World Liberty Financial, also spoke up. He called the bankers openly anti-American, emphasizing that large financial institutions block Americans from earning better returns on their savings.

Banks defend their position, saying that customer deposits are the foundation of the American credit system. JPMorgan Chase CEO Jamie Dimon hinted that the industry is ready to compromise—allow income from stablecoin operations, but not from storage. At the same time, crypto companies that operate as deposit institutions must meet banking standards.

Right now, Senators Tom Tillis and Angela Alsobrooks are considering their final positions. Digital Chamber head Cody Carbon is optimistic—he says that Senator Tillis responds well to their arguments about stablecoin yield. If the Banking Committee pushes the bill through hearings, it will be combined with the version that has already passed the Agriculture Committee.

But time is running out. The Senate has little time for plenary sessions, and the summer midterm elections will distract lawmakers. In essence, the Clarity Act has only a few months left to go through its full cycle. The crypto industry is clearly expecting next week to be decisive.